Treasury Traders Slash Fed-Hike Expectations as Economy Shrinks

Financial

(Bloomberg) — Treasuries rallied, dragging yields down sharply, as traders pared expectations for how much policy tightening the Federal Reserve will do based on a weak initial estimate of the US economy’s performance in the second quarter. Most Read from Bloomberg Shorter-tenor securities led the way, with yields on three-year and five-year notes at one…

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